Page 16 - Biz Magazine August 2019

WHy iT iS imPorTAnT To HAvE A SEconD incomE?

Once we finish tertiary education, for many of us, that is in this regard. This is not an excuse to be financially
where real life problems start. The pressure of finding irresponsible.
that dream job and earning a salary has just begun.
Once we find that job there is often an obligation What is a second income and what are its benefits? Any
to support the family that sent you to school and additional monies to your primary income (salary) is a
university or whatever the case might be. For others its second income. A second income does not mean that
the dream of owning your own house and driving your you must take a second fulltime job or work day and
own car that’s important. This goes to shows that as night. If you can use your spare time wisely and think
human beings, our financial priorities are as individual of a business idea, buying and selling for instance,
as our different situations. whatever profit you receive will be your second income.
Having a second income simply means that:
More often than not, we get consumed by the fact • Your budget does not have to be as tight as it is
that we are earning a steady income and start to have when you only have one income.
this ideology that we can have whatever it is that we
want, even if it is not a necessity, just because we can • You have an opportunity to save more money.
afford that lifestyle. This sometimes makes me wonder • Reduces chances of getting into debt.
whether this could be the beginning of our downfall
but, that is a topic for another day. While others are • You can pay off your debts faster
enjoying the benefits of earning a steady salary some • New skills acquisition
are struggling to even get an internship or in-service
training. What is interesting though, is that, you can • Freedom and security
convince that person to set up a table and sell apples Getting a second income is often not an easy process.
and bananas on the streets and they would make a Our different personality traits can sometimes limit us
One Thousand rand (R1000) a week but they will not into exploring different ways in which we can generate
take your advice and rather choose to look for an in- income for ourselves. For instance, I have always seen
service training that will give them Two Thousand Five myself as an introverted, shy person, not the easiest
Hundred rands (R2500) a month. This is just a highlight person to talk to or make conversation with and I never
of some challenges of life after “school”. ever imagined myself approaching and selling products
What we don’t realise is that the life of earning to people I do not know. Selling the Inuka fragrances
a salary comes with its responsibilities. Lack of products has taken me out of my comfort zone. I have
financial planning could turn the tables up-side-down learned to think out of the box in order for my products
for anyone at any given time. If you earn a salary of to sell and make a profit. While I am helping myself to
R2000.00 for example, you could suddenly have earn a second income, I am also helping three other
debts totalling to R4000.00 a month or you could be people to earn their primary income by helping me sell
earning R20,000.00 and have debts of R30,000.00 the products. This is one of the reasons we say getting
to R40,000.00. This simply means that the more you a second income can make you acquire new skills. It
earn, the more responsibilities you will have and can be done. Inflation is nobody’s friend, we all need a
sometimes there is no way of running away from those second income.
responsibilities. Having a second income is a way out - unathi marwexu

When woman support each other,

incredible things happen!

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